CCI decides to Privatize Discos, Gencos of WAPDA
National Energy (Power) Policy 2013-18 Approved
Islamabad (Monday, Feb 10, 2014) – Council of Common Interests (CCI), which met with Prime Minister Nawaz Sharif in the chair approved issuance of sovereign guarantee for Thar coal mining projects and decided to privatise Discos and Gencos.
The Prime Minister said that presently the government has very limited resources to bear losses of state enterprises. In the past, unnecessary recruitments and corruption has resulted in mismanagement of these organisations and therefore in the national interest, privatisation is the only solution, said the Prime Minister. He added that governance is a collective responsibility and all the provinces have to work in tandem. It was decided by the CCI to continue with the Policy of 2011 regarding privatisation of Power Sector Entities, ie, Discos and Gencos.
The CCI approved issuance of sovereign guarantee for Thar coal mining project. Prime Minister said that Thar Coal is an important national project which has to be fully supported as it would provide the much-needed electricity at cheap rates. Moreover, it was decided that sovereign guarantees would be provided for all future coal-based projects. The National Energy (Power) Policy 2013-18 was also approved.